time off work to be with you child
should they become sick or injured.
Child cover provides a lump sum in
this instance, meaning you can take
time off work and put funds towards
medical treatment.
payable in the event of a claim. Some
policies will have a small amount of
inbuilt free cover as part of an adult
policy. For example, BT automatically
provides $10,000 of cover with
adult policies.
We often think of trauma insurance as
something you need if you have debts
and/or dependents. But more and
more parents are looking to take our
trauma policies for their adult children,
particularly when they first begin going
out to nightclubs or driving on their
own. In fact, some advisers refer to this
as P-plater insurance.
from accidents, including paralysis,
major head trauma or severe burns.
A claim is also payable if an accident
results in someone being in hospital for
a certain length of time for instance, if
your son had an accident that resulted
in him being in a coma for more than 72
hours or in intensive care for more than
11 days. The claim payment would then
allow you and/or him to take time off
work and, more importantly, to fund the
best medical care available.
issues, starting with how much cover
you may need, followed by how
the cover should be structured and
finishing up in this edition with the
definitions and benefits to look out for.
working with you to assess your needs
before researching and contrasting the
is essential.
peace of mind when your family is
faced with a serious illness or injury.
It is less well known than the other
lump-sum policies, life insurance and
total and permanent disability, yet the
chances of claim are far higher.
your policies, speak with your
financial adviser.
over $555 million in trauma claims
to 3193 claimants (Source: The
Risk Store Industry Stats 2012
cancer, followed by heart disease
and neurological conditions.
this, with cancer making up 60%
of claims for men and 84% of
claims for women.
Cardiac
Other